Point Of Rocks, Wyoming Property Taxes
The median property tax rate in Point of Rocks, WY is 0.53%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Point of Rocks, the typical annual property tax bill is $49, considerably less than the national median of $2,690. Property taxes in Point of Rocks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Point of Rocks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Point of Rocks or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Point Of Rocks, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$48
$45
Ownwell’s Point of Rocks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Point of Rocks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Point of Rocks to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Point Of Rocks, Wyoming
Property taxes in Point of Rocks, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Point of Rocks is 0.53%, which is lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Point of Rocks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point of Rocks estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Point of Rocks' effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82942 zip code has both the highest and lowest median property tax rate of 0.53%. Understanding how these cities compare with Point of Rocks provides valuable insights into the varying tax landscape across Sweetwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Point Of Rocks Tax Rate
0.53%
Average Sweetwater County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Point Of Rocks, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82942 | 0.53% | 0.53% | 0.53% | 0.54% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Point Of Rocks, Wyoming
In Point of Rocks, Wyoming, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Sweetwater County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Point of Rocks, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Point of Rocks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sweetwater County is $9,134, with tax bills ranging from $44 at the 25th percentile to $270 at the 90th percentile.
Average Point Of Rocks Assessed Value
$9,134
Average Sweetwater County Assessed Value
$192,526
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Point Of Rocks, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82942 | $7,436 | $8,352 | $9,134 | $16,912 | $48,852 |
Source: Ownwell
Property Tax Bills Across Point Of Rocks, Wyoming
Property tax bills in Point of Rocks, Sweetwater County, WY, are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is a percentage of the property's market value. The tax rate, or mill levy, is then applied to the assessed value to calculate the tax bill. Factors influencing the tax bill include the property's location, size, and improvements, as well as the overall budget needs of the local government and school districts. In Point of Rocks, the median home price is $9,134, which is significantly lower than the national median. Homeowners in the 25th percentile can expect a tax bill of around $44, while those in the 75th percentile might see bills closer to $91. At the 90th percentile, tax bills can reach up to $270. These property taxes fund essential local services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Lower property values in this region result in relatively modest tax bills compared to national averages, providing some financial relief to homeowners.
Average Point Of Rocks Tax Bill
$49
Average Sweetwater County Tax Bill
$1,311
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Point Of Rocks, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82942 | $39 | $44 | $49 | $91 | $270 |
Source: Ownwell